What’s the Big Deal About Relevance?

Relevance is the holy grail for sales and marketing success.  Relevance retains existing customers and wins new ones.  Relevance is at the very core of your customers’ decision to purchase.  It is relevance that closes the deal.

It goes without saying, the more relevant your products, services, events, etc. are to your target audience, the more your target audience will consume and tell others about them.  The more relevant your messaging and advertisements are for your target audience, the more they will resonate with that audience.

In this day and age information flows at the speed of light, and buyers are more informed and have more options than ever before. The sheer explosion of social networking and social media has only exacerbated the problem by making information even more pervasive and connecting people in ways never before imagined. As a result, both customer retention and acquisition have become major challenges.  Retention is the more vital factor because in general it costs 5 times as much to acquire a new customer that it does to keep an existing one.  And customers, who have bought from you before, are much more likely to buy from you again, representing around 80% of sales from only 20% of your customers.

Companies finding success in the market today are focused on strengthening relevance by knowing all they possibly can about their customers– fully understanding their customers’ needs first, and then demonstrating their commitment to the customer by building an offering that meets every aspect of the customer’s needs.  Establishing relevance energizes your influencers, activates positive word of mouth, strengthens loyalty, and increases customer retention and acquisition.